Avantax Planning Partners Inc. Purchases Shares of 23,000 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Avantax Planning Partners Inc. purchased a new stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 23,000 shares of the biotechnology company’s stock, valued at approximately $170,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Saturna Capital Corp boosted its position in shares of Iovance Biotherapeutics by 7.0% in the third quarter. Saturna Capital Corp now owns 20,553 shares of the biotechnology company’s stock worth $193,000 after buying an additional 1,353 shares during the period. AlphaQuest LLC boosted its holdings in Iovance Biotherapeutics by 63.6% in the fourth quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 1,794 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Iovance Biotherapeutics by 10.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 21,318 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,950 shares during the last quarter. Assetmark Inc. boosted its holdings in Iovance Biotherapeutics by 48.0% in the third quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 4,167 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Iovance Biotherapeutics in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.

Iovance Biotherapeutics Stock Down 2.1 %

Shares of NASDAQ IOVA opened at $3.82 on Thursday. The stock’s 50 day moving average price is $5.71 and its two-hundred day moving average price is $8.19. Iovance Biotherapeutics, Inc. has a 52-week low of $3.58 and a 52-week high of $15.90. The stock has a market capitalization of $1.25 billion, a P/E ratio of -2.56 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.26). The business had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $72.17 million. Iovance Biotherapeutics had a negative return on equity of 58.43% and a negative net margin of 451.25%. On average, analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group reduced their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Chardan Capital reduced their price target on Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Truist Financial reduced their price target on Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Piper Sandler reduced their price target on Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Finally, Robert W. Baird cut their price objective on Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.